Weekly Transportation Update: Sales of existing homes on the rise

This week, economic data was limited, but there was a glimmer of strength in the housing market as existing home sales saw an increase. However, the recent rise in mortgage rates could potentially hinder further recovery. On the transportation front, diesel prices remained stable after a significant 21-cent spike last week.

• Diesel prices hold steady after prior week’s large jump.
• Trucking suffers the sharpest drop in annual revenues since the Great Recession.
• Spot rates for van equipment continue to decline.
• Rail carload volume changes little while intermodal traffic eases a bit.